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CONNECTING WITH “HYPERCONNECTED” CONSUMERS
WOMEN IN RESEARCH
JUNE 11, 2015
© Euromonitor International
2
Constant access to technology and the internet has led to a shift in consumer preferences and habits…
Desire for immediacy Don’t know the answer to a question? Ask Google. Want to listen to the latest Taylor Swift song? Buy it from iTunes.
Insistence on transparency Rely on reviews of other consumers instead of company
representatives or paid “experts” Compare prices and products across retailers before buying
Demand for convenience Expect to be able to interact with brands on any device (or in
person) Rely on “one-click” technology (e.g., to call an Uber)
What do these expectations mean for brands that want to successfully connect with this new “hyperconnected” consumer?
Who is the “hyperconnected” consumer?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
CONNECTING WITH HYPERCONNECTED CONSUMERS…
…ONLINE AND IN THE PHYSICAL WORLD
…WHILE SHOPPING
…VIA MOBILE
© Euromonitor International
4
Complain to a company
Share or retweet a product
Share a purchase
Talk to customer service
Share a photo tagged to a company
Buy something via social media
Provide feedback to a company
Share a company’s feed or post
Do not interact with brands on social media
“Follow” or “like” a company
0% 10% 20% 30% 40% 50%
Consumer-brand Interactions on Social MediaTop 4 reasons for not interacting with brands on social media:
1. Prefer to interact with companies in less public settings
2. No reason to interact with brands or retailers
3. Do not want companies to access my social media profile
4. Do not want my social networks to see what I am buying
How do consumers want to interact with brands on social media?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=8,051
© Euromonitor International
5
Are location beacons destined for widespread use or limited appeal?
CONNECTING WITH “HYPERCONNECTED” CONSUMERS
32% of hyperconnected consumers
currently share their phone location with brands or
retailers in exchange for special offers
Beacons as an information delivery service: Immediacy
Quickly find a wealth of information on products Hyper-relevant coupons based on current
locationTransparency
Access to consumer reviewsConvenience
Product information and coupons sent to phone, no searching needed
Push notifications
Ads based on current phone location would help me decide what to buy
Willing to share phone location in exchange for discounts
Actively avoid brands and retailers that track phone location
Uncomfortable sharing phone location with brands and retailers
Ads that track phone location without permission are an invasion of privacy
Attitudes toward Location-based Marketing
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=8,051
© Euromonitor International
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What should brands do (or not do) with so much customer data?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Balancing desire for immediacy, transparency, and convenience with privacy concerns
Targeted ads are helpful
Use ad-tracking or cookie blockers
Freely share personal information online
Only make online purchases from trusted brands
Do not worry about the security of public internet
0% 10% 20% 30% 40% 50% 60% 70%
Hyperconnected Consumer Attitudes toward Internet Privacy
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014 N=8,051
CONNECTING WITH HYPERCONNECTED CONSUMERS…
…ONLINE AND IN THE PHYSICAL WORLD
…WHILE SHOPPING
…VIA MOBILE
© Euromonitor International
8
Immediacy
Transparency
Convenience
Access information via QR codes
Virtual fitting rooms
Scan items and check out via mobile
Can pay with my mobile phone
Self checkout
Roving checkout
Can ship items to store
Wi-Fi connections throughout store
Mobile information based on location
Interactive information via displays
Can ship out-of-stock items to my home
Same-day home delivery
Earn loyalty points when I enter store
0% 10% 20% 30% 40% 50%
Ideal Physical Store Features
What do hyperconnected consumers want from physical stores?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=8,031
© Euromonitor International
9
Video chat with customer support
Virtual fitting rooms
No registration required
Product suggestions based on history
Site is accessible through all devices
Videos showcasing product features
Accurate product search
Expedited shipping
Easy navigation throughout the site
Free return to store
Quick loading time for site or app
Feedback from current customers
Free returns by mail
Free shipping
0% 10% 20% 30% 40% 50% 60% 70% 80%
Ideal Online Store Features
What do hyperconnected consumers want when they shop online?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=8,038
Immediacy
Transparency
Convenience
© Euromonitor International
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How can stores offer immediacy, transparency, and convenience?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Physical Stores Online Stores
Immediacy
• Loyalty points for entering store
• Mobile information based on in-store location
• Quick site or app loading time
• Able to buy wherever, whenever
Transparency• Information accessible
on interactive displays• Feedback from other
users
Convenience• Wi-Fi throughout store
• Same-day home delivery
• Free shipping
• Free returns
CONNECTING WITH HYPERCONNECTED CONSUMERS…
…ONLINE AND IN THE PHYSICAL WORLD
…WHILE SHOPPING
…VIA MOBILE
© Euromonitor International
12
48% of hyperconnected
consumers under 30 make regular purchases using their
mobile phone
36% of hyperconnected
consumers make regular purchases using their mobile
phone
At home At work In-store On the go0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Location While Buying via Mobile Phone
How “mobile” is mobile shopping?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
Top 5 Barriers to Mobile Shopping
1. Small screen size
2. Security or privacy concerns
3. Cumbersome or slow to load websites
4. Inconvenient
5. Prefer to buy in physical stores
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=2,856
© Euromonitor International
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Linking in-store mobile payments with hyperconnected consumer expectations Immediacy
Phone is always in hand to make purchaseTransparency
Easy to track exactly where money is going Tokenization used in in-store mobile payment
transactions safer than traditional credit cardsConvenience
Only need to carry one device (and no wallet!) to make purchases
One-click payment apps make buying easy
Access to device with mobile payments
More retailers accepting payments
Ability to track in-store purchases
Payment app verified by trusted third-party
Increased security of transactions
Earn points or rewards
Easy-to-use app
0% 20% 40% 60%
Desired In-store Mobile Payment Fea-tures
When will we stop opening our wallet to pay?CONNECTING WITH “HYPERCONNECTED” CONSUMERS
46% of hyperconnected
consumers have used an in-store mobile payment at
least once
Source: Euromonitor International consumer survey, Hyperconnectivity Survey 2014N=7,058
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